Reliance Industries Firm Buys Lutyens Delhi Bungalow for ₹350 Crore
Reliance has acquired a bungalow on Prithviraj Road in Lutyens Delhi for ₹350 crore, with the property set to serve as a guest house for employees travelling to the capital.
- The bungalow was acquired for ₹350 crore, excluding taxes.
- The deal was completed towards the end of July 2026.
- Reliance plans to use the property as an employee guest house.
Delhi: A Reliance Industries Ltd.-linked company has purchased a bungalow on Prithviraj Road in Lutyens Delhi for ₹350 crore, marking another major transaction in one of the capital’s most tightly held luxury property markets. The deal was completed towards the end of July 2026 and reflects the premium commanded by large private properties in the area.
The property was sold by Singapore-based businessman Bhupendra Modi, who confirmed the transaction and the reported sale value. The purchase is notable because privately owned bungalows in the Lutyens Bungalow Zone are rarely available, while strict development rules and limited supply have helped keep property values exceptionally high.
A Reliance spokesperson confirmed the acquisition and said the bungalow would be used as a guest house for employees travelling to Delhi. The company, however, did not comment on reports regarding the involvement of Anant Ambani’s family office or provide further details about the transaction. The deal was first reported by the Hindi newspaper Hindustan.
The acquisition comes as interest in the Lutyens Bungalow Zone (LBZ) remains strong among wealthy individuals and large business groups. Located in central Delhi, the approximately 26-square-kilometre zone is known for its expansive plots, greenery, security and proximity to key government and business districts.
The area is also home to several prominent business families and industrialists. However, unlike many other luxury housing markets, the LBZ has a highly restricted supply of privately held bungalows. Government regulations also limit the extent to which properties can be redeveloped or renovated.
The ₹350-crore transaction underlines the extraordinary value attached to prime land and independent bungalows in central Delhi. With limited availability and strong demand from high-net-worth individuals and corporate groups, properties in the area have continued to attract substantial valuations.
The deal also demonstrates that demand for trophy properties in established luxury locations remains strong, even when other parts of the real estate market experience changes in prices or buyer preferences.
Reliance is expected to use the Prithviraj Road property primarily to accommodate its employees travelling to the national capital. The transaction could further draw attention to the limited inventory and high valuations of privately owned properties within the Lutyens Bungalow Zone.
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